A statistical success based on 1 weeks demo trading is invalid. It is based on too few events.
He doesnt trust statistics. I think they didnt teach him the importance of statistics on the military. No wonder why he has a very closed mind.
I love this kind of people that avoid good advice, becasuse they got burn faster, and i can take their money. Mj2009 keep increasing your account , you will pay for my next trip to europe
lol this thread is becoming a funny one 
After reading this entire thread, I have some points for you to ponder.
-
It sounds like you have a trading plan in place for the most part, why would you place an open call for any more suggestions?
-
Considering that these forums consist mostly of the blind leading the blind, why would you not just quietly pick and choose the better content, and implement the more proven ideas to your trading plan?
-
Wouldn’t it be best for your confidence and peace of mind not to have to feel like every statement you make is second guessed and turned into a shouting match?
You seem to have a good head on your shoulders.
Get the stars out of your eyes. Your new hobby can be quite lucrative, providing you don’t try to “optimize” every trade.
Take what the market gives you according to your trade strat.
Be happy with it, and go hunting for the next opportunity as time provides.
And don’t be surprised if your thoughts on how the market works, changes over the long haul. I guarantee in a year from now, you will not only see things differently, you’ll DO things differently. It’s a natural progression.
Let it happen:)
AGAIN … this is from personal experience & opinions … none of it is proven or referenced to proven stats. Those are based off of, supposedly, one persons experience which doesn’t determine the trend for everybody, especially from 15-30 years ago.
& also, some forget that the game changed between 2001-2008 {same with stocks}
All I here is stats stats stats … but All I see is ‘this one guy’ ‘this one trader I know’ ‘this one time at band camp …’,
hopefully you get the point, I am NOT denying that this is true. But I am saying just prove it, show the evidence. If someone does, I will be like “oh okay, cool, thanks for the info!”.
But some of these stats just seem to be the word passed down without anyone ever actually seeing it.
Thanks for advice to looking up ‘scalping pivots and S/R.’
but I am already on the ball and know about support & resistance levels.
I personally like the stoc & stoc momentum. That is what I used last week with reference to EMA.
ALL which are theories based on practice.
One more point…
There IS no better way to scalp…
No magic eyeglasses, no crystal ball, no holy grail…
It’s you and a chart, smart stop losses, and crisp ideas on exiting.
The only goal is to LEARN WHAT YOU ARE STARING AT.
This gig is about timing. A trader is almost NEVER wrong, they are usually just to early, or too late. The quest becomes identifying the best opportunities to enter.
You’d think you’d heed to the words of a professional of 30 years:confused: Maybe he’ll post here and restate everything lol.
Regardless you want to scalp and that’s find, I scalp… somewhat. There are a million ways to scalp.
Hopefully you’ve already found the other part of the forum which contains the systems and have gone through them. If not give them a shot. I’m not sure if you’re waiting for an EMA cross or basing your trades on OB/OS conditions but I would aim to use Momentum + OB/OS. As for how you determine OB/OS and momentum that’s up to you. OB/OS + S/R is also good.
Edit:
Should also point out at that BBands make scalping very easy. Trade the 5/15m and use a 20/2 BB. Take trades back to the center of the BB from the outer bands. Only take trades on a flat BB, if PA starts climbing the walls you should exit. That’s also a strat the professional of 30 years shared.
May or may not be him but someone is paying for my filet mignon tonight haha.
haha enjoy!
I was going to start talking about trading edge and putting odds in your favour, but he will start screaming: SHOW ME WHAT IS AN EDGE! PROVE IT! i CANT SEE IT, i CANT FEEL IT…SHOW ME SHOW ME!
This is a guy who:
- doesnt trust statistics
- refuse to listen advice from most experienced traders
- thinks he has learned to walk,but the true is that he has no system developed.
This has become one of those endless threads that go nowhere, where the person that asked for advice, keeps refuting them
mj2009 you say so many different things, most of which are in complete contradiction to your actions, that is hard to know exactly what I’m supposed to be learning by reading your posts, and YES I HAVE READ ALL YOUR POSTS. The more I read, the more confused I become.
Look at the title of your own thread for instance “I have 3 months/all day/everday HELP!”
And then further into the thread, all of a sudden you know what you are doing and can’t believe anybody would question your knowledge of the market.
In one breathe you are asking how to make money, and in the next you are telling us how good you are at making money! I personally think that you are proud of this week’s profits but deep down you know it was just luck, and are scared that you won’t be able to do it again.
Sadly however, because of your posts in this thread, your ego is on the line, and it is clear to me now that this will be your downfall unless you make some major changes right now.
he doesnt even has an strategy…
mj2009 I just had an epiphany.
I completely hear what you are saying about your 10% in one week. If you quit now, then you made a 10% ROI for the year and as we both agree that is far beyond what you will get in any kind of savings account.
So just walk away now, you’ll automatically prove to everyone that you profited right off the bat and nobody will be able to argue with that!
But can you do it, can you walk away? 
-the fact, lol, that your ‘trip’ is going to be to europe is further evidence you aren’t nearly as skilled as one would think by your comments!
“He doesn’t trust statistics”
-AGAIN … WHAT STATISTICS? ALL I HEAR IS STATISTICS STATISTICS STATISTICS … I WOULD LOVE TO SEE THESE … but you have yet to show any, all I hear is ‘one guy who did it for 30 years said this’ …
If that is your statistic, lol, you must be a millionaire!
you really haven’t read anything have you?
really PLEASE learn to read. I said I expect to lose overall …
Where did I say I know what I was doing?
I also said that I later realized that what I was doing was working.
I will, once again for those of you who can’t read, explain one more time …
–I was told I can’t make a profit, I have so far.
–I was told I don’t have a plan … I do, it is to understand the fundamentals & develop my own theory.
–I was told to look at the statistics … but NO ONE has provided any kind of stats.
–I was told BY GASANVILL
“When i said that statistics say, 95% of traders lose in the first year, i mean that you need to start trading like you are in the 95% until your experience proves you are wrong.”
---- again GASANVILL ---- WHERE ARE THESE STATS??? please show me, I really want to see you back-up everything you have said. & don’t rely on your stats being that of one individual {because we all know one mans experience tells the story of all of mankind!}
AGAIN by GASANVILL
"He doesnt trust statistics."
---- WHAT STATISTICS … you keep talking but are showing nothing.
One more time from THE MAIN MAN!
"This is a guy who:
- doesnt trust statistics
- refuse to listen advice from most experienced traders
- thinks he has learned to walk,but the true is that he has no system developed."
what statistics? experienced but very biased towards their own experience. When did I ever say I think I learned the walk? I admitted I expect to lose overall. I never claimed that I knew I was any kind of expert!
“You’d think you’d heed to the words of a professional of 30 years”
---- again for the 20th time, what professional, what statistics? So if I say right now “a professional told me that I can make a million tomorrow”, then it is suppose to be valid? really? come on hellogoodbye4201
…
Master Tang,
That is what I was talking about when I NEED newbie advice, i don’t need to be told ‘YOU WILL FAIL AND YOU CAN’T MAKE A PROFIT’, So thank you for actually pointing out your open minded opinion instead of relying on statistics.
Seriously, in 2 posts you cleared up more then most on here. Thanks.
Thanks to those who actual had logical thought processes and can think outside of their own box, I appreciate it!
Off to take trav72’s advice & use my good looks to make millions!
This guy is hilarious.
This is a resume of all your trading plan:
-you have made 6% a week and you want to increase your account
-you want to trade using 10 stop losses for all your trades
You havent got any plan. The fact that you want to use the same stop losses (10 pips) on every trade just makes me laugh.Do you even have any idea of what is volatility? and how it changes from pair to pair, and from day to day?
What are you going to do when market conditions change?
Statistics are a tool that will give you and edge in your trading. They are not the main part of a system. For example, knowing in what day of the week the EUR/USD moves more pips will give you and edge because you know where to exit. Knowing the average daily range of the EUR/USD will also give you and edge. Statistics are a complement of trading, not the main part, dont be ignorant, if a study of the EUR/USD for the last year tells you that on Mondays the EU moves an average of 120 pip, then are you have an idea and you start asjusting your stop loss as prices moves 120 pips, for example. They are used just as reference.
Since you keep asking for sources, here is one:
You can test it yourself if you like.
I shouldnt be giving you that link, since you are so arrogant, but i dont care, im making money. Use it or not.
Couple things … first off, I said a plan of mine is knowing the fundamentals & having a theory. Just because I didn’t post it doesn’t mean it isn’t there.
Thanks for 2cd paragraph & link, but on a ‘serious’ note, I was looking for the stats on ‘never’ being profitable the first time round & ‘95%’ lose money.
Those are stats I want to see because I am very good at learning from others mistakes … if those stats are real, I can read what has happened to prevent it from happening.
I’m listening, even if the OP doesn’t seem to be… Thank you very much for the link. Do you know if the same type of analysis as in the link exists for shorter time frames?
To the OP: You know, when you ask for help as you did in your first post, you need to be prepared to actually receive it.
You make it sound as if you’re asking for help, but what you really want is a pat on the back with applause for being such a good, brainy, self-starting, “I’m doing the right thing naturally, don’t give me any of your personal experience because it’s all BS and I already know better than you and so does my wife” person. :rolleyes:
In forex as in so many endeavors in life, pride tends to go before a fall. Humility and the trend are your friends… A bon entendeur, salut!
Actually, I asked for references to stats such as “95% fail” & “you can’t make profit first year”, but have yet to receive those.
I also don’t like being told what I can’t achieve.
If you reference my statement from Saturday, my research … like some, was that the u.s. dollar would go up… I moved my account up to 2500 & bet lots of ‘5’ on it, so far tonight I am doing quite well … going to be a late night.
I am new to this, & again, you obviously didn’t read everything I personally wrote. I know I might fail, I don’t know all of this, I don’t know the expert theory’s. What I do know is that it can be done, I am determined this week to sit here, watch graphs, and scalp my way up. So far so good!
Wish me luck, I will be using my ‘ultra good looks’ to help me achieve this, betting for u.s. dollar and going to hedge if not sell soon and take a turn on aud.
update as I said saturday, I was giong to purchase usd vs other … as of right now I am up about 50pips on the day!
Also, after I scalp my usd, I will be purchasing aud when it gets somewhere below .9800 {in the .97xx range.}
The days of fundamental trading are over. Nowadays the market is run on statistics and if you don’t have your probability ice-cold like everybody else who joins a winning trade, you will have more losing trades.
Knowing the ‘fundamentals’ of anything is completely different from so called ‘days of fundamental trading’. You need to know the fundamentals of anything in life.
It isn’t ran on statistics as much as theory’s, all the graphing tools are done in theory.
Good on you for thinking for yourself rather than just listening and doing what is expected because everyone says that is how you should do it.
I do agree with the others that one week is not a great deal of time but you never know, we could have the next George Soros here